The Canoe Association of Northern Ireland Annual Report and Unaudited Financial Statements for the financial year ended 31 March 2024 Company Number.. N11637999 Charity Number: 103944
The Canoe Association of Northern Ireland CONTENTS Page Reference and Administrative Information Trustees, Annual Report Statement of Trustees, Responsibilitie5 Independent Examinerfs Report 10 Statement of Financial Activtties 11 Balance Sheet 12 Notes to the Financial Statements 13-17
The Canoe Association of Northern Ireland REFERENCE AND ADMINISTRATIVE INFORMATION Trustees Sandra-Lee Campbell Jonathan Caren Stephen Coig Philip Brunt (R8signed 29 November 2023} Bobbie Milligan (Resigned 7 February 20241 Alan Branagh (Appointed 29 November 20231 lain Mccarthy (Appointed 29 November 2023) Gareth Mahood Charity Number In Northern Ireland 103944 Company Registration Number N11637999 Prlncipal Address Belfast Boat Club 12 Lockview Road Belfast BT9 5FJ Northem Ireland Independent Examiner Allen Fleming Old Bank House 161-163 Upper Lisburn Road Belfast BT10 OLJ
The Canoe Association of Northern Ireland TRUSTEES. ANNUAL REPORT for the financial year ended 31 March 2024 The trustees present their Trustees. Annual Report, combining the Directors, Report and Trustees, Report, and the unaudited financial stalemenls for the financial year ended 31 March 2024. The financial statements are prepared in accordan with the Companie5 Act 2006, FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and Accounting and Reporting by Charities.. Statement of Recommended Practi applicable lo charities preparing their financial statements in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland {FRS 102). The Trustees, Report contains the information required to be provided in the Trustees, Annual Report under the statement of Recommended Practice ISORP} guidelines. The trustees of the charity are also charity trustees for the purpose of charity law and under the charity's constitution are known as members of the board of trustees. In this port the trustees of The Canoe Association of Northern Ireland present a summary of ils purpose, governarn, activities, achievements and finances for the financial year 31 March 2024. The charity is a registered charity and hen the report and results are presented in a fom which complies with the requirements of the Companies Act 2006 and, although not obliged to comply with the Statement of Rgcommended Practice applicable in the UK and Republic of Ireland FRS 102. the organisation has implemented ils recommendations where relevant in these financial statements. Mission, Objectives and Strategy Objectives The charity's objects are specifically restricted to the promotion of the following purposes for the benefit of the public.. 1. To advan, promot6. manage. co-ordinate, and develop canoeing and paddlesport in all its forms and in doing so to act as the national goveming body for canoeing in Northern Ireland 2. To advarsce commLtnity development in Northern Ireland by way of engaging members of local communitie5 throughout Northern Ireland of all ages and abilities with canoeing. paddlesport and related activities 3. To advanc8 any other exclusively charitable purposes as the directors may from time to time decide in accordan with the law of charity in Northern Ireland. Structure, governance and management The Canoe Association of Northern Ireland (CANII is governed by a voluntary Board of Directors and Trustees who set the strategic objectives for the Association and receive regular reports on the Associations progress and performan against the achievement of those objectives. During 23124 lain Mccarthy and Alan Branagh joined as Directors and Trustees,. we welcome them to the Board. Two directors stood down Philip Brunt and Bobbie Milligan, we thank them for their tsme and service to CANI. CANI relies greatly upon a volunteer workforc8 to support the small number of permanent staff. Ourtng 23124 CANI continued to support the new management structure lo ensure the successful delivery of our strategic aims and objectives. CANI will continue to wortr towards the full implementation of the revised structure to ensure the Successful delivery of our strategic objectives. Also, during 23124 CANI developed and launched ils Strategic Plan for 2023 - 2028, which is based on the following key ambitions, Organisation, Members, Safety, Community, Recreation, Learning & Development, Pathway to performan and Success. Throughout the year, CANI worked on rebranding from CANI to Paddle Northern Ireland in collaborats'on with British Canoeing, Canoe Wales, and the Scottish Canoe Association to ensure a clear and unified brand across all national associations. CANI look foMard lo operating as Paddle Northern Ireland in the future to implement the Strategy for Paddle sport in Nothern Ireland. The Board would like to thank everyone, both staff and volunteers, who enable events, training. committees, coaching sessions, and recreational events lo lake pla. Review of A¢tlvlties, Achievements and Perfomianco 1} ORGANISATION i) FSCA.. CANI continues to hold its robust rating in the Sport Nl Financial Systems and Controls Assessment (FSCA) ill JuslGo Membership.. Throughout 2023124, CANI continued to enhance ils JuslGo Membership system to ensure a high level of digital proficiency. Additionally, CANI has been implementing changes to incorporate the new branding within the JuslGo stern throu hased a roach. which will continu8 into 2024. Durin this period. CANI worked with JustGo lo
The Canoe Association of Northern Ireland TRUSTEES. ANNUAL REPORT for the financial year ended 31 March 2024 develop a digital wallet. This project was paused to align with our nèw branding and trading narne, Paddle Northern Ireland, and is set to launch this year. illl Membership Ezine.. The Membership Ezine reiVed a fresh new look with our new Paddle Northern Ireland branding. It continues to be circulated to members, providing the latest safety advice, hot topics, and paddling infom)ation. iv) AcSS Nl.. Access Nl applications were processed by CANI during the year. CANI retains it registered body status and continue this important service for CANI Clubs, coaches. leaders and volunteers. vl Website.. During 2023124. CANI developed a new website to reflect the new brand, Paddle Northern Ireland. We h[d a professional photographer and videographer to enable us to capture footage of our members in various locations paddling around Northern Ireland. This has been incorporated into the new website. The website was fully designed by 31st March 2024. However, we delayed the launch until after our EGM, Whe we resolved to char)oe our name from the Cgnoe Association of Northern Ireland to Paddle Northem Ireland. The new website was officially launched on the 15th April 2024. vil Brand CANI continued to promote its brand through the website, soc121 media, and e-zine. expanding ils reach to promote paddlesport within the community. For entry-level awards like Paddle Safer and Paddle Start. participants receive their rtIficateS via email along with links to CANI and other national associations. Throughout the year, CANI worked on rebranding from CANI lo Paddle Northem Ireland in collaboration with British Canoeing, Canoe Wales, and the Scottish Canoe Association to ensure a clear and unified brand across all national associations. Our new brand was launched in April following an EGM for the name change, coinciding with the introduction of a new website and social media channels. vil} Places Securing access points and pemanent facilities for all aspects of the sport is a key priority for CANI. This year, our efforts have primarily focused on collaborating with local aulhorrties to ensure the maintenance of canoe trail a$$ and egress points, with plans established for their ongoing upkeep. viiil Funding-. CANI was successful in securing funding from Sport Nl's Sport Systems Inveslment for the peric¥J 2023-2028. This investment supports 2 staff positions within the organisation and provides funding for athleles parbcipating in Olympic disciplines. ix) Recognition of Stand Up Paddleboarding.. Throughout 2023124, CANI has maintained close collaboration with Paddle Scotland, Canoe Wales, Paddle UK, and Sports CoLJncils. We are also actively working with Sport Nl to 8chieve recognition as the National Governing Body for Stsnd Up Paddleboarding in Northern Ireland. 21 MEMBERS 1,059 people have gained qualifications or awards from 1st April 2023 10 31st March 2024. CANI has recruited new Tutors to deliver its qualificatior+s and awards, supporting them through eLeaming, online webinars. orientations, moderations, and final recommendations. Additionally, CANI continues to support the club volunteer workforce, building capacity and resilience for the future. 3) SAFETY Safety remains a core focus for CANI. Ongoing safety messaging covered key areas induding offshore wind risks for SUPS, Well's disease, and winter paddling advice. A significant campaign, 'Get wet stay safe,. was launched in partnership with Tollymore National Outdoor Centre. Sport Nl, and Swim Ulster to improve safety awareness for stand-up Paddle Boarders and Sit-on-Top Kayakers. This campaign, alongside additional safety initiatives and new courses, underlines CANI'S dedication to creating a secure paddling environment. CANI'S Delivery Centre played a pivotal role in enhancing safety provision through the delivery of a range of BCAB safety courses. Over the reporting period. the Centre sucSsfUllY launched and administered courses including Inland Open Watsr Safety Rescue, Sea Kayak Safety Rescue, Surf Kayak Safety and Rescue, Introduction lo While Water Safety, Safer Recruitment E-leaming, White Water Safety. Safeguarding Refresher, Advanced White Water Safety, SUP While Water Leader, and Swimmer Safety ar7d Rescue. To support this expanded course offering, recruitment and orienlalion prOsS was implemented to onboard new tutors. ensuring the ongoing delivery of high-quality safety trainino across the neork.
The Canoe Assoclation of Northern Ireland TRUSTEES. ANNUAL REPORT for the financial year ended 31 March 2024 4) COMMUNITY il British Canoeing and National Associations CANI is a small organisation that relies on strong partnerships in Northern Ireland, the Republic of Ireland, and the UK. CANI has worked closely with Sport Nl, our main funder, through the Sports System Investment for Govem Bodies. Additionally, CANI collaborates with British Canoeing. the Scottish Canoe Association. and Canoe Wales through the federal agreement, CANI OffirS and volunteers continue to support the development of paddlesport throughout the UK by participating in the following British Canoeing and other national association groupslcommittees.. British Canoeing Board UK CEO Group Coaching Leadership Strategy Group Educab'on Operations Group Safety Advisory Panel Safeguarding Cases Cross Jurisdiction Working Group Safeguarding Steering Group British Canoeing Technical Committees Delivery Partner Scheme Strategy Group Delivery Partner Scheme Marketing Group RNLI SUP Safety Group CANI also collaborates closely with Canoeing Ireland's staff and slalom committee to support Nl athlete5. Throughout the year, CANI works with various organisations including the Northern Ireland Sports Forum {NISFI. Female Sports Forum, DAERA, Scouts Nl, Sea Cadets Nl, Duke of Edinburgh, Disability Sport Nl, Belfast City Council and other local councils, Waterways Ireland. the Mary Peter5 Trust, Equality Commission, HM Coastguard, RNLI, The Rank Foundation, Tourism Nl, and other National Governing Bodies. li) The Outdoor Partnership CANI maintains a strong partnership with The Outdoor Partnership. which has established a presen in both the east and west ol Northern Ireland during 2023124. CANI actively supports The Outdoor Partnership's initiative. iii) Community Organisation Engagement.. CANI has continued to advan the British Canoeing Delivery Partner Scheme, initiating discussions with Scouts Nl and Sea Cadets Nl to integrate the program within their organisations. Collaborative efforts With the Coastguard have been maintained to enhan(x safety and awareness for the paddling community. CANI has proactively disseminated safety infomation, particularly focused oll Sland Up Paddleboarding, through its website and social media channels. 51 RECREATION a} Participation i) Recreational Paddles-. Throughout 2023124. we successfvlly hosted 6 recreational paddles, attracting 151 participants with an equal gender split. We extend our thanks to Ulster Canoe Club for leading these events and to the local clubs for their support. ii) Get Wet Stay Safe- Safety Campaign CANI has been linked with the Get Wet stay Safe Safety Campaign for Stand Up Paddleboard and Sit on Top Kayak safety awareness. In 23124 there was 148 Stand Up Paddleb02rders and 48 Sit on Top Kayakers attended these programrnes. illl Activity Centres and Providers.. Paddlesport parbcipation has surged, with thousands of new participants engaging in activities offered by Activity Centres and Providers across Northern Ireland. Stand Up Paddleboarding and Sit on Top Kayaking have seen particularly significant growth. CANI has been actively encouraging these providers to join the Delivery Partner Scheme. which continues lo expand successfully. b) Clubs i) Club Numbers-. The clubs have been busy throughout 23124 and we are back up to 20 clubs with 868 members. ill Club Support.. The Head of Operations has given additional guidan and support to club rnembers through a variety of resour$ such as, eLearning's. online meetings and ongoing support from officers within CANI. iiil Standards for Deployment CANI has worked in partnership with British Canoeing, The Scottish Canoe Association and Cano8 Wales in the
The Canoe Association of Northern Ireland TRUSTEES, ANNUAL REPORT for the financial year ended 31 March 2024 development of the Standards for Deployment for Clubs, Discipline CommTttees and Delivery Partners. This was launched 7th May 2024. 6) LE4RNING & DEVELOPMENT i) CANI Delivery Centr8-. CANI selves as the Delivery Centre for British Canoeing Awarding Body {BCABI, managing all qualifications and awards within Northern Ireland. During 2023124, CANI completed tsvo audits with BCAB, resulting in the maintenanc8 of compliance and a transition to a Low-Risk Delivery Centre. The Paddlesport Instructor, SUP Instructor, and Coach Award also hold a standard risk rating. CANI ensured standardisalion across all courses through various methods, including field visits, remote slaridardisation, and dgsktop reviews. Tutors, Assessors, and Providers were kept up to date with developments and changes via the CANI website, emails. phone, webinars, orientations, and moderations. Add4tionally, CANI continued to support and develop Ashley Hunter in his role as CANI Slandardisation Officer lo further enhanc8 the CANI Delivery Centre. In October 2023, CANI launched recrLtitment for new tutors in Coaching, Leadership, and Safety. We SLtc¢essfully r8cruited and orientated". 10 Aspirant Tutors for Paddlesport Instructor IPSI} 5 Aspirant Tutors for SUP Instructor (SUPII 3 Aspirant Tutors for Paddlesport Leaders IPSL) 6 Aspirant Tutors for Paddlesport Touring Leader {PSTL} 7 Aspirant Tutors for Paddlesport Safety and Rescue IPSRI 3 Aspirant Tutors for Intro lo While Water Safety IIVVWSI 6 Aspirant Tutors for Inland Open Water Safety and Rescue {IOWSRI 6 Aspirant Tutors for Sea Kayak Safety and Rescue {SKSRI CANI continued to support these aspirants on their journey in achieving their full Tutor status. ii) Qualifications and Awards.. Throughout 2023124, the number of qualifications and awards issued has remained consistent with last year's figures. This stability suggests thal the significant increase in completions over the past kn years has established a new baseline. 71 PATHWAY TO PERFORMANCE Our perfOnman athletes in Paracanoe, Slalom & Sprint continued to perfom well at European and World events. Paracanoe athlete Jonny Young had a remarkable season. silver medallist al the 2023 World Championships, Gold medalli5t at the 1st World Cup and Silver medallist at the 2nd World Cup. Sprint athlete Afton Filzhenry was injured during the 2023 season but has reCoVed well and been confirmed on the GB International Team for 2024. Slalom alhleles Jake Co¢hrane and Ali Mccreery have continued to improve their world rankings with Jake narrowly missing the Team Ireland Olympic place in the C1 event. Ali has been performing well in the newer Kayak X event and was focussing on qualification for Paris 2024. In Canoe Polo local teams Annalong Canoe & Kayak Club and Ulster Canoe Polo travelled to Spain to compete in the 2023 European Canoe Polo Club Championships and six athletes from Northem Ireland competed for GB teams at the Canoe Polo European Championships in Germany. 8) SUCCESS Throughout 2023124, CANI achieved significant success across muRiple areas. We maintained a strong rating in the Sport Nl Finanaal Systems and Controls Assessment, revamped our digital platfomis to reflect our new Paddle Northern Ireland branding, and SucssfullY secured new funding. Our efforts in safety, member engagement, and community collaboration, along with the continued growth in recreational paddlesport and club membership, underscore a highly successful year for the organisation. Financial Revlew The results for the financial year arè sel out on page 11 and additional notes are provided showing income and expenditu in greater d81ail. Results and Dividends At the end of the financial year the charity has assets of £127,63412023 £112,7831 and liabilities of £25,56512023 £35,995). The net assets of the charity have increased by £25,281.
The Canoe Association of Northern Ireland TRUSTEES, ANNUAL REPORT for the financial year ended 31 March 2024 Trustees The trustees who setved throughout the financial year, except as noted, were as follows.. Sandra-Lee Campbell Jonathan Caren Stephen Craig Philip Brunt (Resigned 29 November 2023) Bobbie Milligan (Resigned 7 February 2024} Alan Branagh (Appointed 29 November 2023} lain Mccarthy {Appointed 29 November 2023) Gareth Mahood In accordance with the Constitution, the trustees retire by rotation and. being eligible. offer themselves for re-election, Compliance wlth Se¢tor-Wid9 Legislation and Standards The charity engages pro-actively with legislation. standards and codes which are developed frjr the sector. The Canog Association of Northern Ireland subscribes to and is compliant with the following". The Companies Act 2006 The Charities SORP {FRS 1021 Approved by the Board of Trustees on and slgned on Its behalf by: Sandra-Lee Campbell Trustee
The Canoe Association of Northern Ireland STATEMENT OF TRUSTEES, RESPONSIBILITIES for the financial year ended 31 March 2024 The Iruslees, who are also directors of The Canoe Association of Northern Ireland for the purposes of company law, are responsible for preparing the financial statements in accordance with applicable law and regulations. Company law requires the trustees as the directors to prepare financial statements for each financial year. Under that law the trustegs have elected to prepare the financial slalements in accordan with United Kingdom Generally Accepted Accounting Practice (United Kirigdom Accounting Standards and applicable lawl including FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland Section 1A (Small Enliliesl. Under company law the trustees must not approve the financial slalements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing th858 financial statements, the trustees are required to.. select suitable accounting policies and apply them consistently., make judgements and ests'males that are reasonable and prudent", slate whether the financial ststements have been prepared in accordance with the relevant financial repotting framework. identify those standards, and note the effect and the reasons for any material departure from those standards,. and prepare the financial slatements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation. The trustees confirm that they have complied with the above requirements in pparIng the financial statsments. The trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the charity's transactions and disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with. They are also responsible for safeguarding the assets of the charity and h8nce for tsking reasonable steps for the prevents'on and delection of fraud and other irregularities. Approved by the Board of Trustees on 3> L41 and signed on its behalf by: Sandra-Lee Campbell Trystee
The Canoe Association of Northern Ireland INDEPENDENT EXAMINER'S REPORT TO THE BOARD OF TRUSTEES OF THE CANOE ASSOCIATION OF NORTHERN IRELAND We hav8 examined the fin8ncial statements ofthe charity for the financial year ended 31 March 2024. which comprise the Statement of Financial Activities {incoTporating an Income and Expenditure Account), the Balance Sheet and the related notes. This report is made solely to the charity's members. as a body, in accord8nce with Chapter 3 of Part 16 of the Companies Act 2006. Our work has b88n undertaken so that we might compile the financial statements that we have been engaged to compile, report to the Board of Trustees that we have done so, and state those matters that we have agreed to slate to them in this report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charity and the charity's members, as a body, for our work, or for this report. Rospective rèsponsibilities of trustees and exarniner The charity's trustees {who are also the directors of the company for the purposes of company lawl are responsible for the preparation of the financial glalements in accordan with the requirements of the Companies Act 2006. The charity's trustees consider that an audit is not reqL+ired for this financial year under Chapter 3 of Part 16 of th8 Companies Act 2006 and that an independent examination is required. It is our tssponsibility to= examine the financial ststements under section 65 of the Charities Act,. follow the prOdre$ laid down by the general Directions given by the Charity Commission for Northern Ireland under section 65(91(b} of the Charities Act., and state whether particular matters hav8 come to our attention. Basis of independent examinerfs report We have examined your Gharity financial statements as required under section 65 of the Charities Act and our examination was carried oijt in accordance with the general Directions given by the Charity Commission for Northern Ireland under section 6519llbl of the Charities Act. An examination includes a review of the accounting r8cords kept by the charity and a comparison of the financial statements presented with those records. It also includes consideration of any unusual items or disclosures in the financial statements and seeking explanations from the trustees concerning any such matters. The pro¢edures undertaken do not provide all the eviden that would be required in an audit and consequently no opinion is given as to whether the accounts present a llrue and fair, view and the report is limited to those matters s8t out in the statement below. In connection with our examination, no matter has Come lo our attention which gives us causg to believe that in. any material respect". accountng records were not kept in accordance with section 386 of the Companies Act 2006 the financial statements do not accord with those accounting records the financial statements have not been prepared in accordan with the accounting qU1ments of section 396 of the Companies Act 2006 and with the methods and principles of the Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS1021 the is further infonnation needed for a proper understanding of the accounts to be reached. Independent examiner's statement We have no COnrS and have corne across no other matters in connection with the examination to which attention should be dr8wn in this report in order to enable a proper understanding of the financial statements to be reached. PrI- Allen Fleming Old Bank House 161-163 Upper Lisburn Road Belfast BT10 OLJ IIILIA 10
The Canoe Association of Northern Ireland STATEMENT OF FINANCIAL ACTIVITIES Ilncorporating an Income and Expendlturè Ae¢ountl for the financial year ended 31 March 2024 Unrestricted Restricted Funds Funds 2024 2024 Total Unrestricted Restricted Funds Funds Funds 2024 2023 2023 Total Funds 2023 Notes Income Donations and legacies Charitable activities Govemance 51,023 122,169 173,192 50,867 94,495 145,362 2,142 2,142 2,856 2.856 Total income 51,023 124,311 175,334 50,867 97,351 148,218 Expenditure Raising ftjnds Charitable activities 13,548 12,194 32.071 92,240 45,619 104,434 10,827 29,009 26.199 67.072 37,026 96,081 Total Expenditure 25.742 124,311 150,053 39.836 93,271 133,107 Net incomel(expendlture} 25,281 25,281 11,031 4,080 15,111 Transfers tseeen funds Net movement in lunds for the financial year 25,281 25,281 11,031 4,080 15,111 Reconciliation of funds: Total funds beginning of the year 14 63.822 12,966 76,788 52,791 8,886 61,677 Total funds at the end of the year 89.103 12,966 102,069 63.822 12,966 76,788 The Statement of Financial Activities includes all gains and losses recognised in Ihe financial year. All income and expenditure relate to continuing activities. The notes on pages 13 10 17 forrn part ot the financial stslemenls 11
The Canoe Association of Northern Ireland Company Number.. N11637999 BALANCE SHEET a5 at 31 March 2024 2024 2023 Notes F5xed Assets Tangible assgts 14,189 18,885 Current Assets Debtors Cash at bank and in hand 10 14,331 99,114 16,382 77,736 113.445 94,118 Credttors: Amounts falling due within one year 11 (19,134} (27,4221 Net Current Assets 94.311 66.696 Total Assets less Current Liabilities 108,500 85,381 Grants re¢elvablo 12 (6,4311 18,5731 Tolal Net Assets 102,069 76,788 Funds Restricted funds General fund lunrestrictedl 12.966 89,103 12,966 63,822 Total funds 14 102,069 76,788 Thes8 financial statements have been preparèd in accordan with the special provisions relatsng to small companies within Part 15 of the Companies Act 2006. For the financial year ended 31 March 2024 the charity was entitled to exemption from audit under sectton 477 of the Companies Act 2006., and no notice has been deposited under section 476. The trustees confimi that the members have not required the company to obtain an audit of its financial statements for the financial year in question in accordance with Section 476 of the Companies Act 2006. The trustses acknowledge their responsibilities for ensuring that the charity keeps 2ccounting records which comply with section 386 and for preparing financial slalements which give a true and fair view of the state of affairs of the charity as al the end of the financial year and of it5 profit and loss for the financial year in accordance with the requirements of sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charity. The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies, regime and in accordance with FRS 102 'The Financial Reporting Stsndard applicable in the UK and Republic of Ireland" applying Section 1A of that Standard. Approved by the Board of Trustees and authorlsed for issue on behalf by Z4and Signed on tts Sandra-Lee Carnp Tru$t&e The notes on pages 13 10 17 form part of tre financlal stslements 12
The Canoe Association of Northern Ireland NOTES TO THE FINANCIAL STATEMENTS for the financial year ended 31 March 2024 GENERAL INFORMATION The Canoe Assouation of Northern Ireland is a company limited by shares incorporated in Northern Ireland. The registered office of the charity is which is also the principal place of business of the charity. The financial statem8nls have been presented in Pound {£} which is also the functronal currency of the charity. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES The following accounting policies have been applied consistently in dealing with items which are considered material in relation to the charity's financial statements. Bas1$ of proparation The financial statements have been prepared on the going concem basis under the historical cost convention, modified to include certain items at fair value. The financial statements have been prepared in accordance with the Statement of Recommended Practi (SORPI "Accounting and Reporting by Charities preparing their accounts in accordan with the Financial Reporting Standard applicable in the UK and Republic of Ireland FRS 102" applying Section 1A of that Standard. As permitted by the Companies Act 2006, the charity has varied the standard fomials in that act for the Statement of Financial Activities and the Balants Sheet. Departures from the standard formals are to comply with the requirements of the Charities SORP and are in Complian with section 4.7, 10.8 and 15.2 of that SORP. Statement of compliance The fi'nancial stat8ments of the charity for the financial year ended 31 March 2024 have been prepared on the going conrn basis and in accordan with the Statement of Recornmended Practice ISORPI Accounting and Reporting by Charities preparing their accounts in accordance with the Financi81 Reporting Standard applicable in the UK and Republic of Ireland FRS 102" applying Section 1A of that standard. Fund accountlng The followlng are the categories of funds maintained.. Restricted funds Restricted funds represent income reiVed which can only be used for particular purposes, as specified by the donors. Such purposes are within the overall objectives of the charity. Unrestricted funds Unrestricted funds consist of General and Designated funds. General fijnds represent amounts which are expendable at the discretion of the board, in rtheranc8 of the objectives of the charity. Designated funds comprise unrestricted funds that the board has, at its discretion. set aside for particular purposes. These designations have an administrative purpose only, and do not legally restrict the board's discretion to apply the fund. Income Income is recognised by inclusion in the Statement of Financial Activities only when the charity is legally entitled lo the income, performance conditions attached lo the ilem(sl of income have been met. the amounts involved can be measured with sufficient reliability and it is probable that the income will be received by the charity. Income from charitable a¢tivitie$ Income from charitable activities include income eamed from the supply of servic£s under contractual arrangements and from performance related grants which have conditions that specify the provision of particular services to be provided by the charity. Income from government and other co-fund8rs is recognised when th8 charity is legally entitled lo the income because il is fulfilling the conditions contained in the related funding agreements. Wh8r8 a grant is received in advan, its recognition is deferred and included in creditors. ere entitlement occurs before income is received, it is accrued in debtors. Grants from governments and other co-funders typically include one of the following types of conditions-. PerfonTlan based conditions.. whereby the charity is contractually enlilled to funding only to the extent that the core objectives of the grant agreement are achieved. Where the charity is meeting the core objectives of grant agreement. it recognises the related expenditure, to the extent that it is reimbursable by the donor, as income. 13
continued The Canoe Association of Northern Ireland NOTES TO THE FINANCIAL STATEMENTS for the financial year ended 31 March 2024 Time based conditions.. whereby the Charity is contractually entitled to funding on the condition that it is utilised in a particular period. In these cases the charity recognises the income lo the extent it is utilised within the period specified in the agr88ment. In the absence of such conditions, assuming that receipt is probab18 and the amount can be reliably measured, grant income is recognised once the oharity is notified of entitlement. Grants received towards capital expenditu are credited to the Statement of Financial Activities when received or re1Vable, whichever is earlier. Expenditure Expenditure is analysed been costs of charitable activities and raising funds. The cost5 of each activity are separately accumulated and disclosed, and analysed according to their major components. Expenditure is recognised when a legal or conslruclive obligation exists as a result of a past event. a transfer of economic benefits is required in settlement and the amount of the obligation can be reliably measured. Support costs are those functions that assist the work of the charity but Cannot be attributed to one activity. Such costs are allocated to activities in proportion to staff b'me spent or other suitable measure for each actiwty. Tangible fixed assets and depreciation Tangible fixed assets are stated al cost or at valuation, less accumulated depreciation. The charge to depreciation is calculated to write off the original cost or valuation of tangible fixed assets, less their estimated residual value, over their expected usefvl lives as follows.. Mobile Office Canoes and Trailers Tools and Equipment Office Equipment 10Vo Straight line 25¥0 reducing balance 250/0 reducing balan 25 10 reducing balance Debtors Debtors are recognised al the settlement amount due after any discount offered. Prepayments are valued at the amount prepaid nel of any trade discounts due. Income recognised by the charity from gDvemrnent agencies and other co-fvnders, but not yet received at financial year end. is included in deblors. Cash at bank and in hand Cash at bank and in hand comprises cash on deposit al banks requiring less than three months notice of withdrawal. Taxation and deferred taxation No current or deferred taxation arises as the charity has been granted charitable exemption. Irrecoverable valued added lax is expensed as incurred. Deferred tax is recognised in respect of all liming differences that have originated but not reversed at the balan sheet date where transactions or events hav& occurred at that dale that will result in an obligation to pay more tax in the future, or a right to pay less tax in the future. Timing differences are temporary differences between the charity's taxable profits and ils results as stated in the financial statements. Deferred tax is MeaSud on an undiscounled basis al the lax rates that are anticipated to apply in the periods in which the timing differences are expected to reverse. based on tax rates and laws that have been enacted or substantively enacted by thg balance sheet date. INCOME DONATIONS AND LEGACIES Unrestri¢ted Restricted Funds Funds 2024 2023 Donations and legacies 51.023 122,169 173,192 145.362 CHARITABLE ACTIVITIES Unrestrlctod Restricted Funds Funds 2024 2023 Grants from governments and other ¢o-funders: Income from charitable activities 2,142 2,142 2,856 14
continued The Canoe Association of Northern Ireland NOTES TO THE FINANCIAL STATEMENTS for the financial year 8nded 31 March 2024 EXPENDITURE RAISING FUNDS Direct Costs Other Costs Support Costs 2024 2023 Raising funds 37,427 8,192 45,619 37,026 CHARITABLE ACTIVITIES Dirèct Costs Other Costs Support Costs 2024 2023 Governance Costs {Nole 4.31 104,434 104.434 96,081 GOVERNANCE COSTS Dlre¢t Costs Other Costs Support Costs 2024 2023 Charitable activities - governance costs 104,434 104.434 96.081 SUPPORT COSTS Cost of Governance Raising Costs Funds 2024 2023 Support 8.192 104,434 112,626 94,437 ANALYSIS OF SUPPORT COSTS 2024 2023 Support 112,626 94,437 NET INCOME 2024 2023 Net Income is stated after charging1{creditingl: Depreciation of tangible assets Amortisation of grants receivable 4,476 (2,142) 5,664 12,8561 INVESTMENT AND OTHER INCOME 2024 2023 Amortisation of capital grants received 2,142 2,856 EMPLOYEES AND REMUNERATION The staff costs comprise.. 2024 2023 Wages and salaries 85.537 74,456 15
continued The Canoe Association of Northern Ireland NOTES TO THE FINANCIAL STATEMENTS for the financial year ended 31 March 2024 TANGIBLE FIXED ASSETS Mobile Canoes and Office Trailers Tools and Office Equlpment Equipment Total Cost At 31 March 2024 9,143 56,736 743 8,764 75,386 Depreclatlon At 1 April 2023 Charge for the financial year 4,724 914 44,321 3,104 620 30 7,056 428 56,721 4,476 At 31 March 2024 5,638 47,425 650 7.484 61,197 Net book value At 31 March 2024 3,505 9,311 93 1.280 14,189 At 31 March 2023 4,419 12.415 123 1.708 18,665 10. DEBTORS 2024 2023 Trade debtors Prepayments and accrued income 975 13,356 828 15,554 14,331 16,382 11. CREDITORS Amounts falllng due viithin one year 2024 2023 Trade creditors Taxation and social security costs Accruals and deferred income-. Pension accrual Other accruals 1,182 1,829 4.944 2.190 449 15,674 371 19,917 19,134 27,422 12. GRANTS RECEIVABLE 2024 2023 Capital grants re¢eived and receivable At 1 April 2023 34,366 34,366 Amortisation At 1 April 2023 Amortised in financial year (25,793> {2,142) 122.9371 {2,856) At 31 March 2024 (27,935) 125,7931 Net book value At 31 March 2024 6,431 8,573 At 1 April 2023 8,573 11.429 16
continued The Canoe Association of Northern Ireland NOTES TO THE FINANCIAL STATEMENTS fr)r the financial year ended 31 March 2024 13. RESERVES Funds Sport Nl Govemance fund Totsl At the beginning ofthe year Sufplus for Ihe financial year 63,822 25,281 1,224 11,742 76,788 25,281 At the end of the year 89,103 1,224 11.742 102,069 14. FUNDS 14.1 RECONCILIATION OF MOVEMENT IN FUNDS Unrestricted Restricted Funds Funds Total Funds At 1 April 2022 Movement during the financial year 52.791 11,031 8,886 4,080 61,677 15,111 At 31 March 2023 Movement during the financial year 63,822 25,281 12,966 76,788 25,281 At 31 Mard) 2024 89,103 12,966 102.069 14.2 ANALYSIS OF MOVEMENTS ON FUNDS Balance 1 April 2023 Income Expgnditure Transfers between funds Balance 31 March 2024 Restricted funds Restricted Unre$trlcted funds Unrestricted General 12.966 124.311 124,311 12,966 63,822 51,023 25,742 89,103 Total funds 76,788 175,334 150,053 102.069 14.3 ANALYSIS OF NET ASSETS BY FUND Fixed assets - ¢harity use Current assets Current Long-terni liabilltles deferred Income Total Restricted funds 6,431 24,806 (11,840) 16,4311 12,966 Unrestricted general funds 7,758 88,639 (7,294) 89,103 14,189 113,446 (19,134) 16,431) 102,069 15. POST-BALANCE SHEET EVENTS There have been no significant events affecting the Charity since the finanaal year-end. 17